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Little Joy as NYC Rent Is Up

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The Rent Guidelines Board, which sets maximum rents for rent-stabilized apartments in New York City, has issued its annual increases, disappointing both tenants and landlords. For leases beginning on or after Oct. 1, 2013, landlords may increase the rent by 4 percent for one-year leases and 7.75 percent for two year leases, according to the Board website. Last year, the raises were only 2 percent and 4 percent, respectively.

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